In the years following the global financial crisis, investors have remained shy of the credit risk of large-scale projects and banks in particular have been wary of over-exposure. Bank lending for 10+year tenors remains expensive and tenors beyond 15 years can be

The World Bank recently took its strongest stance yet in support of Islamic finance, with the publication of a report in collaboration with the Islamic Development Bank (IDB) urging the increased use of Shariah compliant structures in the fields of project finance

What is commercial Takaful, and how can it help your business? Islamic insurance offers a wide range of possibilities, with innovation occurring all the time to bring corporates the latest in protection across all areas of business needs. For a company considering

For conventional bonds, issuers who default or delay payments are usually penalized by an update in the interest rate, which is usually linked to their credit rating. But for Sukuk, where interest is forbidden, the question of restructuring can be a little

New debt issuance in emerging markets nearly tripled between 2007 and 2014. With an average duration of four to eight years for the majority of this debt, S&P have estimated the peak refinancing period to hit between 2017-18. But what does this

Islamic finance has seen exponential growth over the past decade, leading to a proliferation in the variety, complexity and sophistication of Shariah compliant product offerings that inevitably brings with it the risk of dispute. As the market develops and demand becomes more

In May S&P took the step of upgrading Indonesia’s sovereign rating to ‘BBB-‘ from ‘BB+’, a move which has not only seen foreign investors pile into the market but has spiked a surge in corporate issuance as the cost of debt plummets,

With liquidity tight especially across core Islamic finance markets in the Gulf, banks are becoming increasingly risk averse. Lending is down to its lowest point in four years in the GCC, with banks set for a profit dip as asset growth slows

Islamic aviation financing is on the rise – developing into a successful asset class that offers a template for how Shariah compliant structures can be applied and adapted to a wide variety of specific financing requirements. This month we look at how

The corporate sector saw a record volume of Sukuk issuance in 2016, according to a new study from the Malaysia Islamic Financial Center (MIFC), with corporate issuers making up the dominant share of the market for the first time. This positive trend

Oman is one of the newer arrivals to the Islamic finance market in the Middle East, but has spent the past six years consolidating its position and building up its domestic industry. Attention has now turned to the debt capital market, and

In January 2017 the Africa Finance Corporation issued its debut US$150 million Sukuk, the largest ever from an African entity and the latest transaction to highlight the growing opportunities in the African market. We take a look at the most recent developments

In December 2016 the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) released its long-awaited Islamic standard on gold, in collaboration with the World Gold Council (WGC) — sparking a surge of activity as institutions and individuals across the world raced

This month we take a look at the tightening credit options for corporates in the Gulf as banks rein in their financing in response to the current economic conditions – and what Islamic alternatives can offer instead. It is no surprise that

As one of the most important factors creating a benchmark and a yield curve for corporate Sukuk issuance, sovereign Islamic bonds are essential to open up the market and blaze a trail. While economic conditions in 2016 may have dampened capital market

Japan, one of the world’s most advanced economies and the third-biggest by GDP, has seen growth stagnate in the last two decades following the stock market crash of 1990. Yet despite slow domestic growth its cash-rich companies have in the last few

There are many misconceptions surrounding the complexity of the Islamic capital markets, and one of the biggest is the belief that a ban on short selling inhibits investment and prevents the equity market from developing to its full potential. However, as we

Global trade finance may have suffered last year, with weak overall demand making 2015 the worst year for world trade since 2009. But all markets are not equal, and Islamic economies offer some of the most attractive opportunities for corporates seeking supply

Infrastructure undertakings across multiple markets are including Shariah compliant tranches in their fundraising activities in order to leverage the high liquidity of the Islamic market and expand their pool of potential investors. From highway construction to water systems, power plants to railway

The banking industry has had a tough year, especially in oil-producing regions like the GCC where surpluses have shrunk and deposits diminished, placing pressure on lending activity and causing problems for corporates seeking business financing. Lending attitudes have become more conservative as